It’s coming, and we know approximately when. The economy contracted by 0.3 percent, and imports have contracted. Tariffs of 145 percent on China are a trade embargo for many sectors. China’s retaliatory measures are an embargo in the other direction.
In a revealing speech, Trump’s economic adviser has exposed the actual strategy behind the tariff policy: forcing other countries to provide financial support for US world hegemony.
Trump posted a message to his followers just before pausing the bulk of his tariffs. He may have accidentally confessed to insider trading and market manipulation on Truth Social.
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Trump’s effort to end US foreign aid throws out a lot of babies with the bathwater. During the Cold War, the US waged a war of ideas with the Soviet Union to capture the hearts and minds of the world. Foreign aid also boosted US businesses.
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